Welcome to our dedicated page for B&G Foods news (Ticker: BGS), a resource for investors and traders seeking the latest updates and insights on B&G Foods stock.
B&G Foods, Inc. (NYSE: BGS), based in Parsippany, New Jersey, is a prominent American manufacturer and distributor of a diverse range of high-quality, branded shelf-stable and frozen foods. The company's products are recognized across the United States, Canada, and Puerto Rico, catering to a broad spectrum of consumer tastes and preferences.
B&G Foods' extensive portfolio includes well-known brands such as Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Emeril’s, Grandma’s Molasses, J.J. Flats, Joan of Arc, Las Palmas, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Rickland Orchards, Sa-són, Sclafani, Smart Puffs, Spring Tree, Sugar Twin, Trappey’s, TrueNorth, Underwood, Vermont Maid, and Wright’s. Additionally, B&G Foods markets the household product brand, Static Guard.
In recent news, B&G Foods announced a significant partnership with the historic Four Sixes (6666) Ranch to introduce a new line of Four Sixes™ Seasonings, BBQ & Hot Sauces. This collaboration aims to bring the authentic flavors of the iconic 154-year-old ranch in Guthrie, Texas, to home cooks nationwide. The new product line, crafted with historical recipes from the ranch, is set to include over a dozen varieties of seasoning blends, BBQ sauces, and hot sauces. This venture highlights B&G Foods' commitment to delivering authentic and high-quality flavor solutions to its customers.
The company's financial condition remains robust, supported by its diversified product offerings and strategic partnerships. B&G Foods continues to focus on expanding its market presence and enhancing its brand portfolio to meet the evolving needs of consumers. For individuals seeking employment opportunities, B&G Foods provides career options at B&G Foods Careers.
B&G Foods, Inc. (NYSE: BGS) will participate in the Barclays Global Consumer Staples Conference on September 8, 2022, at 9:45 a.m. Eastern Time, in Boston, MA. Investors can listen to a live webcast of the fireside chat via the investor relations section of B&G Foods' website. A replay will be available after the event. B&G Foods, headquartered in Parsippany, New Jersey, offers a diverse portfolio of over 50 well-known food brands across the U.S., Canada, and Puerto Rico.
B&G Foods reported Q2 2022 net sales of $479.0 million, a 3.1% increase year-over-year, primarily driven by net pricing and product mix. However, diluted EPS fell to $0.00, a 100% decline from Q2 2021. Adjusted net income also dropped by 81% to $5.1 million, reflecting challenges from inflation and supply chain issues. The company reaffirmed its full-year sales guidance at $2.10 billion to $2.14 billion but revised adjusted EBITDA expectations downward to $300-$320 million. Overall, B&G faces continued inflation pressures despite improving sales.
B&G Foods, Inc. (NYSE: BGS) has declared a regular quarterly cash dividend of $0.475 per share, to be paid on October 31, 2022 to shareholders of record as of September 30, 2022. This dividend represents a 7.6% annualized yield based on the market price as of August 1, 2022. This marks the 72nd consecutive quarterly dividend since the company's IPO in October 2004.
B&G Foods has launched a new culinary product, the SNICKERS™ Shakers Seasoning Blend, designed to replicate the iconic flavors of the SNICKERS® chocolate bar. This product will be available in stores nationwide starting August 2022, following the successful TWIX™ Shakers Seasoning Blend introduced in 2021. The seasoning is crafted to enhance various dishes, including ice cream and yogurt, allowing consumers to enjoy the taste of their favorite chocolate treat in new culinary ways. The partnership with Mars underscores B&G's commitment to innovative product development.
B&G Foods, Inc. (NYSE: BGS) plans to release its second quarter 2022 financial results after market close on August 4, 2022. The company will hold a conference call at 4:30 p.m. ET the same day to discuss these results. CEO Casey Keller and CFO Bruce Wacha will host the call. Investors can access the earnings press release and the conference call via the investor relations section of the B&G Foods website. This announcement signals B&G Foods' commitment to transparency and engagement with its shareholders.
B&G Foods (NYSE: BGS) has amended its senior secured credit facility to allow a temporary increase in the maximum consolidated leverage ratio from 7.00 to 1.00 to 7.50 to 1.00 for the quarter ending July 2, 2022, and to 8.00 to 1.00 through September 30, 2023. During Q2 2022, the company sold 2,739,568 shares under its ATM equity program, generating
B&G Foods (NYSE: BGS) announced a reorganization into four business units: Spices & Seasonings, Meals, Frozen & Vegetables, and Specialty. This restructuring aims to enhance focus, drive organic growth, and streamline operations. The company has appointed new leaders for each unit, effective August 1, 2022. CEO Casey Keller emphasized the need for a structure that supports accountability, decision-making speed, and adaptation to market conditions, including inflation and supply chain challenges. The restructuring reflects ongoing strategies to improve financial performance and capitalize on post-pandemic consumer trends.
B&G Foods, Inc. (NYSE: BGS) has declared a quarterly cash dividend of $0.475 per share, payable on August 1, 2022, to shareholders of record as of June 30, 2022. At the market price on May 17, 2022, this dividend represents an annual yield of 7.9%. This marks the 71st consecutive quarterly dividend since the company's IPO in October 2004.
B&G Foods has acquired the frozen vegetable operations of Growers Express to enhance its Green Giant brand. The deal includes inventory, equipment, and facilities in
B&G Foods reported Q1 2022 net sales of $532.4 million, a 5.4% increase from Q1 2021, largely driven by pricing initiatives and elevated demand. However, diluted EPS fell to $0.34, a 17.1% drop year-over-year. Adjusted EBITDA was $77.9 million, down 16.2%, impacted by high input cost inflation and supply chain disruptions. The company raised its full-year net sales guidance to $2.10 billion - $2.14 billion, but cautioned against ongoing inflation and supply chain issues, which could affect future performance.
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